Mattson updates quarterly view; bookings to decline 30%-40%

ChristopherHinton

NEW YORK (MarketWatch) -- Mattson Technology Inc.
mtsn
said Wednesday that new third-quarter bookings are expected to be 30% to 40% below previous quarterly bookings of $71 million. Revenue for the quarter ending Sept. 30 shuld be within 5% of the low end of the company's $60 million to $65 million guidance range. "Third quarter bookings have been weaker than expected due to a slowdown in memory spending," said David Dutton, chief executive officer. Mattson also reaffirmed its third-quarter earnings forecast of 5 cents to 7 cents, and a gross margin in the range of 41% to 43%. The company releases earnings on Oct. 24. Mattson shares fell 10% in premarket trading to $8.16.

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